Procedure
1. Buyer shall issue LOI(Letter of Intent) to Seller
2. Seller shall issue SCO(Soft Corporate Offer) to Buyer and Buyer shall issue ICPO(Irrevocable Corporate Purchase Order) to Seller when it is accepted.
3. Buyer shall issue MT705 or the attached BCL(Bank capability Letter) through their bank to prove the bank capability.
4. ICPO shall be written with Buyer companyâ??s letterhead, and include Buyer banking information and representativeâ??s passport copy
5. Seller shall issue to Buyer the draft of SPA(Sales and Purchase Agreement) together with IMFPA(Non-Circumvention, Non-Disclosure Agreement) &
NCNDA(Irrevocable Master Fee Protection Agreement) and all of agreements are signed(Sealed,Endorsed) together when both agree.
6. Buyer shall issue the MT700, 100% Irrevocable At sight L/C (Letter of Credit) through the bank SWIFT for the full value of the commercial invoice.
7. Seller's bank shall issue PB(Performance Bond) equivalent to 2% of the value of the L/C to the buyerâ??s bank after Sellerâ??s bank approves the L/C.
8. The delivery schedule of the signed SPA (contract) shall keep on time and shipment shall arrange as soon as possible.
Buyer can check and get the followings once the BCL(proof of bank capability) and MT700 are transferred and confirmed through the bank SWIFT system..
Seller's business license
Manufacturer Export license
Certificate of ownership
Certificate of Origin
Certificate of Export Permission
Proof of Product
Certificate of Chemical Composition
SGS report for technical specification test
Ownership transfer
Sight Inspection for Seller's Warehouse
Any of additional documents shall be exchanged only through the secured Bank channels(Bank SWIFT) such as MT700 or MT705.
If you are a real buyer, feel free to contact me. The seller has 5 million tons in stock.
